Snowflake and NVIDIA Power Customized AI Applications for Customers and Partners

Rhea-AI Summary

Snowflake announced a new collaboration with NVIDIA at the Snowflake Summit 2024 to enable customers and partners to build AI data applications. This partnership integrates NVIDIA AI Enterprise software into Snowflake Cortex AI, enhancing the functionality of Snowflake's AI services. The integration will allow seamless connection of custom models to business data, providing highly accurate responses and optimized performance. Snowflake Arctic, an enterprise-grade large language model (LLM), is now fully supported by NVIDIA TensorRT-LLM software and available as an NVIDIA NIM inference microservice. The collaboration aims to help enterprises rapidly create bespoke AI solutions to unlock the potential of enterprise AI.

Positive

• Integration with NVIDIA AI Enterprise software enhances Snowflake's AI offerings.
• Snowflake Arctic LLM now fully supported by NVIDIA TensorRT-LLM software.
• Availability of Snowflake Arctic as an NVIDIA NIM inference microservice.
• Enhanced AI capabilities allow creation of bespoke AI solutions for various industries.
• Collaboration enables businesses to connect custom models to diverse data sources.
• Quantiphi's AI-powered Snowflake Native Apps enhance productivity for specific business personas.

Negative

• No specific financial benefits or revenue expectations mentioned in the PR.
• Potential increased competition in the AI enterprise space.

Insights

Tech Expert

The partnership between Snowflake and NVIDIA represents a significant advancement in the AI landscape. By integrating NVIDIA's AI Enterprise software, specifically the NeMo Retriever and Triton Inference Server, into Snowflake's Cortex AI, businesses can now build highly customized AI applications with remarkable ease and efficiency. This will likely drive rapid adoption of AI technologies across various industries. Such integration ensures a seamless connection between custom models and diverse business data, enhancing the accuracy and performance of AI-driven solutions.

From a technical perspective, the enhanced capabilities of Snowflake Cortex AI powered by NVIDIA's enterprise-grade tools mean that enterprises can leverage state-of-the-art infrastructure without the associated complexities of managing multiple AI systems. The support for highly optimized performance through NVIDIA TensorRT-LLM software positions Snowflake Arctic as a highly competitive offering in the LLM market.

For retail investors, this collaboration suggests Snowflake is doubling down on AI, which could translate to increased customer retention and market share in the burgeoning AI sector. The move to offer Arctic as an NVIDIA NIM inference microservice also broadens its accessibility, potentially driving further adoption among developers.

Financial Analyst

Snowflake's strategic partnership with NVIDIA to enhance its AI offerings is a bold move with significant financial implications. Integrating NVIDIA’s NeMo Retriever and other AI tools into Snowflake’s Cortex AI could streamline AI application development, giving Snowflake a competitive edge in the crowded AI marketplace. Such technological advancements are likely to attract more enterprise clients, boosting Snowflake's revenue streams.

Investors should note the potential for increased adoption of Snowflake’s AI services, particularly in industries requiring advanced data processing capabilities, such as finance and healthcare. The ability for businesses to create bespoke AI solutions efficiently could lead to higher customer satisfaction and lower churn rates, improving Snowflake's financial health in the long term.

This partnership also indicates a potential increase in Snowflake's operating expenses due to the integration and continuous support of NVIDIA’s robust AI infrastructure. However, the long-term benefits, such as enhanced product offerings and increased market penetration, might outweigh these costs.

Market Research Analyst

This collaboration between Snowflake and NVIDIA addresses a growing market demand for AI-driven business solutions. As enterprises increasingly seek to leverage AI to optimize operations and drive innovation, this partnership positions Snowflake to capitalize on this trend effectively. By incorporating NVIDIA’s advanced AI tools, Snowflake can offer its clients enhanced functionality and performance, potentially increasing its customer base.

Furthermore, Snowflake’s focus on providing accessible and efficient AI solutions aligns well with current market dynamics. The AI market is experiencing rapid growth, with businesses across sectors investing heavily in AI technologies. Snowflake’s enhanced offerings could help it capture a larger share of this expanding market, driving long-term growth.

For retail investors, this means Snowflake is well-positioned to benefit from the rising demand for AI solutions. The partnership with NVIDIA not only augments Snowflake’s technical capabilities but also enhances its market appeal, making it an attractive investment prospect.

Bringing together the industry's leading AI-powered applications, models, and hardware so customers can deliver enterprise AI across their businesses with ease, efficiency, and trust

SAN FRANCISCO--(BUSINESS WIRE)-- Snowflake (NYSE: SNOW), the AI Data Cloud company, today announced at Snowflake Summit 2024 a new collaboration with NVIDIA that customers and partners can harness to build customized AI data applications in Snowflake, powered by NVIDIA AI.

Snowflake and NVIDIA Power Customized AI Applications for Customers and Partners (Graphic: Business Wire)

With this latest collaboration, Snowflake has adopted NVIDIA AI Enterprise software to integrate NeMo Retriever microservices into Snowflake Cortex AI, Snowflake’s fully managed large language model (LLM) and vector search service. This will enable organizations to seamlessly connect custom models to diverse business data and deliver highly accurate responses. In addition, Snowflake Arctic, the most open, enterprise-grade LLM, is now fully supported with NVIDIA TensorRT-LLM software, providing users with highly optimized performance. Arctic is also now available as an NVIDIA NIM inference microservice, allowing more developers to access Arctic’s efficient intelligence.

As enterprises look for ways to further unlock the power of AI across their teams, there’s an increasing need to apply data to drive customization. Through Snowflake’s collaboration with NVIDIA, organizations can rapidly create bespoke, use-case specific AI solutions, enabling businesses across industries to realize the potential of enterprise AI.

“Pairing NVIDIA’s full stack accelerated computing and software with Snowflake’s state-of-the-art AI capabilities in Cortex AI is game-changing,” said Sridhar Ramaswamy, CEO, Snowflake. “Together, we are unlocking a new era of AI where customers from every industry and every skill level can build custom AI applications on their enterprise data with ease, efficiency, and trust.”

“Data is the essential raw material of the AI industrial revolution,” said Jensen Huang, founder and CEO, NVIDIA. “Together, NVIDIA and Snowflake will help enterprises refine their proprietary business data and transform it into valuable generative AI.”

Snowflake Cortex AI + NVIDIA AI Enterprise Software

Snowflake and NVIDIA are collaborating to integrate the key technologies of NVIDIA AI Enterprise software platform – such as NeMo Retriever – into Cortex AI, so business users can efficiently build and leverage bespoke AI-powered applications that maximize their AI investments.

NVIDIA AI Enterprise software capabilities to be offered in Cortex AI include:

• NVIDIA NeMo Retriever: Provides information retrieval with high accuracy and powerful performance for enterprises building retrieval-augmented generation-based AI applications within Cortex AI.
• NVIDIA Triton Inference Server: Provides the ability to deploy, run, and scale AI inference for any application on any platform.

In addition, NVIDIA NIM inference microservices – a set of pre-built AI containers and part of NVIDIA AI Enterprise – can be deployed right within Snowflake as a native app powered by Snowpark Container Services. The app enables organizations to easily deploy a series of foundation models right within Snowflake.

Quantiphi, an AI-first digital engineering company, and 'Elite' tier partner with both Snowflake and NVIDIA, is one of the many AI providers building Snowflake Native Apps using Snowpark Container Services. These apps run within a customer's Snowflake account to help ensure data remains protected, while delivering faster time-to-value. Quantiphi’s Native Apps, baioniq™ – a generative AI platform for boosting knowledge worker productivity and Dociphi – an AI-led intelligent document processing platform for the banking, financial services, and insurance industries, target specific business personas to accelerate their industry use cases and day-to-day operations. Both Dociphi and baioniq were developed using the NVIDIA NeMo framework and will be available on Snowflake Marketplace for users to deploy without leaving their Snowflake environment.

Expanded Support for Snowflake Arctic

The state-of-the-art Snowflake Arctic LLM, launched in April 2024 and trained on NVIDIA H100 Tensor Core GPUs, is available as an NVIDIA NIM so users can get started with Arctic in seconds. The Arctic NIM hosted by NVIDIA is live on the NVIDIA API catalog for developer access using free credits, and will be offered as a downloadable NIM, giving users even more choice to deploy the most open enterprise LLM available on their preferred infrastructure.

Earlier this year, Snowflake and NVIDIA announced an expansion of their initial collaboration to deliver a single, unified AI infrastructure and compute platform in the AI Data Cloud. Today’s announcements represent key advancements in Snowflake’s shared mission with NVIDIA to help customers succeed on their AI journeys.

Learn More:

• Tune into the Snowflake Summit 2024 Keynote livestream to hear about the latest in AI, apps, and data collaboration and check out Snowflake Dev Day on June 6, 2024 to see the latest innovations in action.
• Dig into how the world-renowned Snowflake AI Research team trained Snowflake Arctic in this blog.
• See how organizations are bringing generative AI and LLMs to their enterprise data in this video.
• Stay on top of the latest news and announcements from Snowflake on LinkedIn and Twitter / X.

About Snowflake

Snowflake makes enterprise AI easy, efficient, and trusted. Thousands of companies around the globe, including hundreds of the world’s largest, use Snowflake’s AI Data Cloud to share data, build AI and machine learning applications, and power their business. The era of enterprise AI is here. Learn more at snowflake.com (NYSE: SNOW).

Forward-Looking Statements

This press release contains express and implied forward-looking statements, including statements regarding (i) Snowflake’s business strategy, (ii) Snowflake’s products, services, and technology offerings, including those that are under development or not generally available, (iii) market growth, trends, and competitive considerations, and (iv) the integration, interoperability, and availability of Snowflake’s products with and on third-party platforms. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described under the heading “Risk Factors” and elsewhere in the Quarterly Reports on Form 10-Q and the Annual Reports on Form 10-K that Snowflake files with the Securities and Exchange Commission. In light of these risks, uncertainties, and assumptions, actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. As a result, you should not rely on any forward-looking statements as predictions of future events.

© 2024 Snowflake Inc. All rights reserved. Snowflake, the Snowflake logo, and all other Snowflake product, feature and service names mentioned herein are registered trademarks or trademarks of Snowflake Inc. in the United States and other countries. All other brand names or logos mentioned or used herein are for identification purposes only and may be the trademarks of their respective holder(s). Snowflake may not be associated with, or be sponsored or endorsed by, any such holder(s).

View source version on businesswire.com: https://www.businesswire.com/news/home/20240603571544/en/

Media Contacts

Tom Hannigan

Partner PR, Snowflake

press@snowflake.com

Source: Snowflake Inc.

FAQ

What is the focus of Snowflake's new collaboration with NVIDIA?

The collaboration aims to enable customers and partners to build customized AI data applications using NVIDIA AI integrated into Snowflake's AI services.

What new capabilities does Snowflake Cortex AI gain from the NVIDIA partnership?

Snowflake Cortex AI will integrate NVIDIA AI Enterprise software, including NeMo Retriever, enabling efficient building of AI-powered applications with enhanced accuracy and performance.

What is Snowflake Arctic and how is it enhanced by NVIDIA software?

Snowflake Arctic is an enterprise-grade LLM, now fully supported by NVIDIA TensorRT-LLM, providing optimized performance and availability as an NVIDIA NIM inference microservice.

How does the Snowflake and NVIDIA collaboration benefit enterprises?

The collaboration allows enterprises to create customized AI solutions quickly, leveraging their business data to unlock the full potential of enterprise AI.

What are some examples of AI applications developed through the Snowflake and NVIDIA collaboration?

Examples include Quantiphi's baioniq™, a generative AI platform for productivity, and Dociphi, an intelligent document processing platform for banking and financial services.